Masimo (Nasdaq: MASI) should enjoy growth through the middle of the next decade, thanks to its exploration of opportunities outside its core market that are more driven by hospital automation, according to a new equity research report out of Barclays.
Masimo is on track to having 8–10% top-line growth and 12–15% earnings per share growth through 2025, according to the Barclays report. The growth can be attributed to new market entry and further expanding the company’s Rainbow platform, Root and Patient SafetyNet.
The company already has its Root connectivity hub that allows for third-party access from outside of the hospital system. This means other companies can create technology that works with Root. Masimo also recently released its Telehealth Rad-97 for home monitoring.